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Monday, December 23, 2002

Sales blitz fails to satisfy retailers



The Associated Press

NEW YORK - Despite bustling stores and malls during the last weekend before Christmas, retailers remained anxious and uncertain after a hoped-for sales bonanza failed to materialize.

Many storeowners disappointed by consumers' cautious buying are now looking with some desperation to last-minute shoppers and post-Christmas bargain hunters for some relief in what has been a difficult holiday season.

At K-B Toys Inc., "we are happy that we are holding ground, but we were really hoping for a higher increase" during the weekend, spokesman John Reilly said Sunday.

Analysts said other merchants had a similar experience. "It was a solid weekend, but retailers needed a spectacular weekend," said C. Britt Beemer, chairman of America's Research Group. "It was what I expected, but not what I hoped."

Shoppers were searching for the best price, and retailers were accommodating them with two-for-one specials and other deep discounts.



Sales blitz fails to satisfy retailers
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